President Signed Coronation of Tax Deferral Codes due to Coronavirus

President Sooronbai Zheenbekov signed the Law of the Kyrgyz Republic “On Amending Certain Legislative Acts of the Kyrgyz Republic on the Stabiliation of the Socio-Economic Situation in Connection with Force Majeure”. This was reported by the department of information policy of the apparatus of the head of state.

It is specified that the law was adopted by the Jogorku Kenesh on April 1. The package includes changes to the Tax Code and Code of Violations.

It is specified that from April 1 to October 1, taxpayers can submit applications for a deferment or installment plan for the amount of tax debt resulting from force majeure circumstances without presenting bank guarantee documents for a period of not more than a year. The deadline for tax reporting, with the exception of tax reporting on indirect taxes when importing goods to the territory of the Kyrgyz Republic from EAEU, is proposed to be extended for business entities until July 1, 2020.

For non-fulfillment of tax obligations by the taxpayer for the period from March to June as a result of force majeure circumstances, the deputies propose not to apply tax sanctions and penalties.

In addition, the deadline for submitting the Unified Tax Return for 2019 by individuals and sole proprietors is to be set until April 1, 2021.

The law comes into force on April 1.